We are pleased to inform you that the Government of Montenegro, at the session held on 30 May 2024, has officially designated Montenegrin Power Exchange (hereinafter: MEPX) as the Nominated Electricity Market Operator (hereinafter: NEMO).
The legal basis for making this decision is contained in the Energy Law, which stipulates that the Government, on the proposal of the Ministry of Energy and Mining, decides on the fulfillment of the conditions for the Nominated Electricity Market Operator designation, with the prior opinion of the Energy and Water Regulatory Agency of Montenegro (hereinafter: REGAGEN).
This recognition represents a significant step forward in the development of the energy sector in Montenegro and additionally confirms MEPX's commitment to improving the transparency and efficiency of the power market.
MEPX's designation opens the door to a number of opportunities, including:
- Market Coupling: Coupling of the organized power market in Montenegro with the markets of European Union (EU) countries, in our specific case with Italy, i.e. joining of Montenegrin organized market to the Single Day-Ahead, as well as Intraday, market of Europe
- Greater liquidity, transparency and efficiency: improving market transparency, increasing efficiency, and significant progress in improving security of supply in Montenegro, establishing a regional wholesale power price, optimal distribution of available cross-zonal capacities, as well as more efficient integration of renewable energy sources into the power market, all based on transparent and non-discriminatory market principles
- Regulatory compliance: Ensuring compliance with European energy regulations and standards, which contributes to strengthening the confidence of market members.
Dejan Drašković, CEO of MEPX, stated: "NEMO designation for MEPX represents the recognition of the effort and hard work put in so far to establish a complete system necessary for the launch of the day-ahead market in Montenegro and our perspective to couple our markets with the European and to launch the intraday market. This is actually a collective success of the entire energy sector in Montenegro because this would not even be feasible without the joint work of all of us. Thus I have to thank our colleagues from the Ministry of Energy and Mining and other energy entities who helped us on this path, as well as our partners from abroad. The very fact that the day-ahead market in Montenegro has been functioning flawlessly for over a year indicates the professionalism with which this project was approached both by us and by our service providers from France and Slovenia. We have to emphasize that a very important role was also played by traders from the region and Europe who gave us their trust, becoming members in our market, to our mutual satisfaction.
This designation opens new doors for us, which will enable joining the internal market of Europe, and thus enable greater security and quality of power supply, as well as more efficient integration of production from renewable sources into the power system."
MEPX will continue to work on further strengthening of its capacities and improving market mechanisms, with the aim of ensuring a stable and efficient power market in Montenegro.
This announcement highlights the importance of NEMO designation for MEPX and its impact on Montenegrin power market, including plans for future activities and benefits for all participants in the energy sector.
For additional information, please contact us via the following email addresses: